Crown Castle Announces Pricing of Public Offering of Common Stock
April 26 2017 - 7:26AM
Crown Castle International Corp. (NYSE:CCI) (“Crown Castle”)
announced today that it has priced its previously announced public
offering of 4,750,000 shares of its common stock.
The gross proceeds from the offering are
expected to be approximately $447 million. Crown Castle intends to
use the net proceeds from this offering for general corporate
purposes, which may include the funding of acquisitions, including
the proposed acquisition of Wilcon Holdings LLC (“Wilcon
Acquisition”), discretionary investments and the repayment or
repurchase of outstanding indebtedness. This offering is not
contingent upon the consummation of the Wilcon Acquisition.
Barclays, RBC Capital Markets, Citigroup and
J.P. Morgan are acting as underwriters for the offering
(“Underwriters”). The Underwriters may offer the shares of common
stock from time to time in one or more transactions on the New York
Stock Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale or at negotiated prices. The last reported sale price
of Crown Castle’s common stock on April 25, 2017 was $94.27 per
share.
The offering is being made pursuant to an
effective shelf registration statement filed with
the Securities and Exchange Commission (“SEC”). The
offering will be made only by means of a prospectus supplement and
the accompanying base prospectus, copies of which may be obtained
by contacting the Underwriters using the information provided
below. An electronic copy of the preliminary prospectus
supplement, together with the accompanying prospectus, is also
available on the SEC’s website, www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Cautionary Language Regarding
Forward-Looking Statements
This press release contains forward-looking
statements that are based on Crown Castle management’s current
expectations. Such statements include plans, projections and
estimates regarding the proposed offering, including the net
proceeds therefrom and the use of such proceeds. Such
forward-looking statements are subject to certain risks,
uncertainties and assumptions, including prevailing market
conditions and other factors. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expected. More information about potential risk
factors that could affect Crown Castle and its results is included
in Crown Castle’s filings with the SEC. The term “including,”
and any variation thereof, means “including, without
limitation.”
UNDERWRITER CONTACT
INFORMATION
Barclays Capital
Inc.,1155 Long Island Avenue, Edgewood, NY 11717Attn: Broadridge
Financial SolutionsToll-free:
1-888-603-5847Barclaysprospectus@broadridge.com |
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RBC Capital Markets
LLC,200 Vesey Street, 8th Floor, New York, NY 10281-8098Attn:
Equity SyndicateToll-free:
1-877-822-4089Equityprospectus@rbccm.com |
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Citigroup Global
Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 (Tel: 800-831-9146) |
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J.P. Morgan Securities
LLCc/o Broadridge Financial Solutions1155 Long Island Avenue,
Edgewood, NY 11717Attn: Prospectus DepartmentToll-free:
1-866-803-9204 |
Contacts: |
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Dan
Schlanger, CFO |
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Son Nguyen,
VP & Treasurer |
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Crown Castle
International Corp. |
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713-570-3050 |
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